Registration number: 09784340

Latimers Seafood Limited

(Registration number: 09784340)
Statement of Financial Position as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	-	1,000
Tangible assets	5	100,938	122,498
		100,938	123,498
Current assets
Stocks		28,306	30,511
Debtors	6	22,575	23,647
Cash at bank and in hand		30,614	21,992
		81,495	76,150
Creditors: Amounts falling due within one year	7	(90,563)	(103,264)
Net current liabilities		(9,068)	(27,114)
Total assets less current liabilities		91,870	96,384
Creditors: Amounts falling due after more than one year	7	-	(3,900)
Provisions for liabilities		(25,235)	(23,276)
Net assets		66,635	69,208
Capital and reserves
Called up share capital		100	100
Retained earnings		66,535	69,108
Shareholders' funds		66,635	69,208

Latimers Seafood Limited

(Registration number: 09784340)
Statement of Financial Position as at 30 November 2025

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 14 May 2026 and signed on its behalf by:
 

......................................... Mr R Latimer,Jnr. Director

Latimers Seafood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Shell Hill
Bents Road
Whitburn
Sunderland
Tyne & Wear
SR6 7NT

These financial statements were authorised for issue by the Board on 14 May 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102. 'The Financial Reporting Standards applicable in the UK and the Republic of Ireland'

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the sale of seafood, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to the profit and loss account by equal annual instalments over the expected useful lives of the relevant assets.

Government grants or assistance of a revenue nature are credited to the profit and loss account in the same period as the related expenditure.

Latimers Seafood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Improvements to property	10% Straight Line
Fixture and Fittings	10% Straight Line
Motor Vehicles	20% Straight Line
Equipment	33.33% Straight Line

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight Line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchases, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Latimers Seafood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Leases

assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

the company operates a defined contribution pension scheme covering a number of its employees. The scheme funds are administered by trustees and the assets of the scheme are held separately from those of the company. The pension costs charges against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 19).

Latimers Seafood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 December 2024	10,000	10,000
At 30 November 2025	10,000	10,000
Amortisation
At 1 December 2024	9,000	9,000
Amortisation charge	1,000	1,000
At 30 November 2025	10,000	10,000
Carrying amount
At 30 November 2025	-	-
At 30 November 2024	1,000	1,000

5	Tangible assets

	Improvements to Land and buildings £	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 December 2024	23,477	209,758	8,818	55,475	297,528
Additions	1,030	5,602	965	-	7,597
Disposals	-	(13,774)	-	-	(13,774)
At 30 November 2025	24,507	201,586	9,783	55,475	291,351
Depreciation
At 1 December 2024	10,276	101,146	8,136	55,472	175,030
Charge for the year	2,348	19,902	579	-	22,829
Eliminated on disposal	-	(7,446)	-	-	(7,446)
At 30 November 2025	12,624	113,602	8,715	55,472	190,413
Carrying amount
At 30 November 2025	11,883	87,984	1,068	3	100,938
At 30 November 2024	13,201	108,612	682	3	122,498

Latimers Seafood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	5,387	5,246
Prepayments	8,105	5,333
Other debtors	9,083	13,068
	22,575	23,647

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		3,915	7,799
Trade creditors		28,096	35,191
Taxation and social security		18,257	13,869
Accruals and deferred income		28,170	32,760
Other creditors		12,125	13,645
		90,563	103,264

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		-	3,900

Latimers Seafood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

8	Related party transactions

Transactions with directors

2025	At 1 December 2024 £	Advances to director £	Repayments by director £	At 30 November 2025 £
Directors Loan	5,528	1,958	(3,586)	3,900

2024	At 1 December 2023 £	Advances to director £	Repayments by director £	At 30 November 2024 £
Directors Loan	7,371	5,528	(7,371)	5,528